Orosur sets sights on Nigerian lithium projects
TSX-V- and Aim-listed Orosur Mining, which has projects in Colombia, Argentina and Brazil, has entered into a joint venture (JV) agreement with Nigerian company Jurassic Mines for the exploration of a number of licences across Nigeria, which it considers to be highly prospective for lithium mineralisation.
The company says it has long been examining an entry into the lithium space to add to its diversified portfolio of high-quality exploration assets but has found few attractive South American opportunities.
“Nigeria, however, is rapidly emerging as one of the most prospective regions of Africa for the discovery of lithium pegmatite mineralisation and, as such, is now seeing a very high level of interest and activity,” Orosur notes.
"Orosur has been examining entry into the lithium space for several years, but as with our other projects, we have pursued an early-stage, low-entry cost strategy, based on detailed geological understanding of the local mineralising systems.
“Nigeria is clearly on a different continent, but with the extensive Nigerian experience of myself and our chairperson Louis Castro, together with our partner's excellent local team, we are entirely confident in our ability to develop this exciting opportunity in Nigeria in harmony with our equally exciting South American assets which we will continue to progress as planned," comments Orosur CEO Brad George.
Through its new UK-based subsidiary Lithium West, Orosur will earn up to a 70% interest in the Nigerian licences over two phases.
A team of experienced geologists, along with all necessary equipment and logistical support, are in place, with field programmes to start immediately. Work will start initially with preliminary reconnaissance.
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